Profile cover photo
Profile photo
Coulson Elder Law
8 followers -
Your Trusted Advisor on the Elder Care Journey
Your Trusted Advisor on the Elder Care Journey

8 followers
About
Posts

Post has attachment
For a married couple applying for Medicaid, there are bound to be concerns regarding income and particularly how much income the community spouse (the one who isn’t in the nursing home) gets to keep. In Illinois, the base number is a set number that applies in all situations and that is $2,739. In Missouri, however, it can vary between a minimum of $2,030 and a maximum of $3,090. (May 2018 figures)

This raises a couple of questions.

What if the community spouse has less income than the rules would allow them to have?
What if the community spouse has more income than those numbers?
In both cases, the answers aren’t as obvious as these figures imply. There are wonderful planning opportunities here to help protect assets from long-term care costs when one spouse is in a nursing home.

In this Elder Law Minute, Wes Coulson, O’Fallon Illinois Elder Law attorney, discusses another topic from the video series Married Couples and Medicaid and explains how much income the community spouse is entitled to keep.
Add a comment...

Post has attachment
The natural instinct for us is to want to keep someone who has been diagnosed with Alzheimer’s at home for as long as possible before moving them into a memory care facility. But, in a lot of cases, that may not particularly be doing them a favor. We are creatures of habit and when we are in unfamiliar places it can be disorienting to do even the simplest of tasks. Giving someone the ability to form new habits and to act on those habits is very important.

With this in mind, it is actually helpful to consider making that move early enough so that the person with Alzheimer’s has the opportunity to form the new habits which are going to make their life better and their stay more successful in the memory care facility.

In this Elder Law Minute, Wes Coulson, Southern Illinois Elder Law attorney, presents another topic covered in The Alzheimer’s Guide: Practical Advice for Families, Caregivers and Professionals and discusses the importance in timing of placing someone who is suffering with Alzheimer’s, or other forms of senile dementia, into a memory care facility.
Add a comment...

Post has attachment
The Medicaid rules regarding cars, trucks and other vehicles are different for a married couple than they are for a single person. A single person is only allowed to have one vehicle in Illinois that is limited to $4500 in value (unless it is used or equipped for medical transportation), in Missouri without that particular limit. In the case of a married couple, however, the spouse who is not in the nursing home (community spouse) is also allowed to have a vehicle of any value, as long as it is reasonable.

So, within those rules, is there a possibility of protecting a third vehicle?

In this Elder Law Minute, Wes Coulson, O’Fallon Illinois Elder Law attorney, presents another topic from the video series Married Couples and Medicaid and discusses how the Medicaid rules apply to married couples regarding cars, trucks and other vehicles.
Add a comment...

Post has attachment
In the second part of the two-part series on victim risk factors for elder financial abuse, we look at other circumstances such as depression and loneliness, social isolation and substance abuse that are risk factors for somebody becoming a victim of financial exploitation. As mentioned before, the presence of these factors doesn’t necessarily mean that somebody will be a victim, but they are things that cause an enhanced risk and are circumstances to watch out for.

In this Elder Law Minute, Wes Coulson, Southern Illinois Elder Law attorney, continues with the video series on the Financial Exploitation of Elders and presents part two of his discussion on victim risk factors that could make someone vulnerable for elder financial abuse and exploitation.
Add a comment...

Post has attachment
There are certain victim risk factors such as advanced age, female gender, cognitive or physical impairments, and language and communication issues, that all lend themselves to leaving someone open for financial exploitation. This doesn’t necessarily mean that everyone who has these factors is going to be a victim, it does however mean that these are things that make it more likely.

In this Elder Law Minute, Wes Coulson, Southern Illinois Elder Law attorney, continues with the video series on the Financial Exploitation of Elders and begins a two-part series that discusses victim risk factors that could make someone vulnerable for elder financial abuse.
Add a comment...

Post has attachment
We can be very successful through various planning means in protecting assets for a married couple through the well spouse, or the one who is not in the nursing home (known in Medicaid-speak as the community spouse).

But, what if that spouse happens to be the one who dies first?

Most married couples have what we call Sweetheart Wills or Living Trusts, that essentially leaves everything to the other spouse when one spouse dies. Unfortunately, this can be a Medicaid disaster if the well spouse (community spouse) dies first. Their entire estate is left now to the spouse in the nursing home who can only keep $2000 of it and needs to spend everything down.

In this Elder Law Minute, Wes Coulson, Southern Illinois Elder Law attorney, discusses another topic from the video series Married Couples and Medicaid and offers advice on how to protect assets through Medicaid-sensitive estate planning if the “well spouse” should die first.
Add a comment...

Post has attachment
A Geriatric Care Manager will most likely have a background in nursing, social work, gerontology, or even a combination of these and are experienced in dealing with problems facing elders, particularly those with Alzheimer’s. Because they tend to have a lot of contacts in the community, a Geriatric Care Manager is also a valuable resource of information and help. They can assist in helping with anything you basically might need such as finding the right home care workers or even an appropriate program to deal with driving issues.

Not only can a Geriatric Care Manager connect you with a community of helpful resources, but they are a wonderful source of counseling and guidance for you as a caregiver, as well.

In this Elder Law Minute, Wes Coulson, Southern Illinois Elder Law attorney, presents another topic covered in The Alzheimer’s Guide: Practical Advice for Families, Caregivers and Professionals and explains what a Geriatric Care Manager is and why they are a valuable source of help to have as you go through the Alzheimer’s journey.
Add a comment...

Post has attachment
The financial exploitation of elders is a devastating problem. The annual losses in the United States is estimated to range in the billions of dollars. There is, however, quite a bit of divergence in the studies because it is a seriously underreported problem.

There are two basic types of financial exploitation of elders. The first is stranger abuse, which includes scammers or could be a new friend. The second type involves someone close to the elder person, such as a family member, a fiduciary, or even a close friend. In both cases, the financial exploitation is often not reported. There are a variety of reasons for this, such as the elder person doesn’t want to admit being gullible or, in the case of a family member, the elder person doesn’t want to admit the abuse being in the hands of someone they love. It’s really a serious problem and one that when we recognize it, we can work towards limiting the instance of elder financial abuse.

In this Elder Law Minute, Wes Coulson, Southern Illinois Elder Law attorney, begins a new video series on the Financial Exploitation of Elders and offers insights on the two basic types and discusses how devastating and underreported this problem is.
Add a comment...

Post has attachment
If you are married and looking at applying for Medicaid, there are bound to be numerous concerns regarding the “community spouse,” the one who is not going into the nursing home, and what assets they are entitled to keep.

One important asset the community spouse is entitled to keep is the residence. In addition to that, they also get something called a community spouse resource allowance, which is an amount of non-exempt assets that the community spouse gets to keep. These amounts vary in Illinois and in Missouri. The fact that the community spouse gets to keep assets has a lot to do with the planning that we do to help community spouses keep as much of those assets as possible.

In this Elder Law Minute, Wes Coulson, Southern Illinois Elder Law attorney, discusses another topic from the video series Married Couples and Medicaid and explains what assets the community spouse is entitled to keep.
Add a comment...

Post has attachment
“In my mind everyone needs an asset preservation plan, especially as you grow older.” If you’re fortunate enough to make it to age 65, there’s about a 40 percent chance that you’ll eventually wind up in a long-term care facility. If you make it to age 85, that goes up to about a 70 percent chance.

This specific legal planning is directed toward protecting your life savings from the financial devastation that can accompany the need for long-term care. Different from estate planning, having an asset preservation plan in place makes sure you have an inheritance left to pass on to your loved ones.

In this Elder Law Minute, Wes Coulson, Southern Illinois Elder Law attorney, discusses legal planning directed towards protecting assets from the potentially devastating costs of long-term care and gives insights as to who needs an asset preservation plan.
Add a comment...
Wait while more posts are being loaded